This Governance Note explains why climate change is a governance issue. It describes the development challenge that climate change poses and the policy response.
... See More + It outlines the role of institutions in tackling climate change and key entry points for the governance practice.
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The development objective of the Second Partnership For Market Readiness Project is to support Turkey in developing the legal, institutional and technical framework for piloting an emissions trading scheme (ETS).The additional financing will finance following four components: 1) Technical assistance to develop the legislative and institutional foundations for piloting an ETS aims to provide technical assistance and input to the MoEU to draft the policy and administrative documents, which will establish the legal and institutional framework for an ETS pilot; 2) Establishing the technical foundations for piloting an ETS in Turkey is to establish of an ETS requires a robust technical infrastructure and capacity, as well as sound policy choices; 3) Stakeholder Training, Consultation/Engagement and Public Awareness Activities will include: (i) conferences, workshops, and training to support the activities under Components 1 and 2; (ii) consultation meetings with stakeholders; and (iii) public awareness activities (media, decisionmaker-level public/private meetings, etc.) and development of strategic communication materials; and 4) Coordination and Expert Support consists of a project coordinator, a project assistant, a procurement specialist, a financial management specialist and other technical experts.
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Carbon pricing instruments (CPIs) involve large legal and financial interests. Trust in the accuracy and integrity of the reported data is therefore a prerequisite for a well-functioning instrument.
... See More + To ensure accuracy and integrity of data, a robust monitoring, reporting, and verification (MRV) system is essential. Verification is critical to enhance trust in a carbon pricing system. Where systems have large financial implications, participation is voluntary, or international exchange of units is planned, this trust is paramount for successful implementation. This guidebook aims to help regulators to better understand their options in designing a verification system tailored to their specific needs and circumstances.
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With the Paris Agreement and most of its detailed rulebook now finalized, countries and subnational actors face the challenge of translating climate targets and strategies into action and determining how to finance these actions.
... See More + Through the Pilot Auction Facility for Methane and Climate Change Mitigation (PAF), the World Bank developed an innovative financial mechanism – climate auctions – which stimulates private investment in projects that reduce greenhouse gas emissions. Climate auctions offer price guarantees to companies that can deliver eligible climate results in the future. These price guarantees are allocated through a transparent, efficient auctioning process, which maximizes the climate impact of scarce public funds. In the near-term, countries can utilize climate auctions to spur significant investments in low-carbon activities and mobilize finance at the scale and pace necessary to achieve their national climate targets, laying the groundwork for longer-term carbon pricing and greater climate ambition. This policy brief is intended to inform policymakers and public funders about why climate auctions are an effective tool for achieving climate outcomes, focusing on how policymakers can utilize auctions to accelerate NDC implementation and raise climate ambition. It also outlines how climate auctions work and where they are most effective. The policy brief was produced by staff of the World Bank with external contributions from the Rocky Mountain Institute.
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This is the executive summary of a full research paper (see World Bank working paper no. WPS8695; http://documents.worldbank.org/curated/en/215561546957017567/).
... See More + The initial International Maritime Organization (IMO) strategy on reduction of greenhouse gas (GHG) emissions from ships ("Strategy") stipulates that any GHG reduction measure should be considered in the light of its impacts on States. This means that these impacts should be assessed and taken into account as appropriate before adoption of the measure. The Strategy further notes that the impact assessment procedure should be specified and agreed on as a matter of urgency as part of the follow-up actions and that disproportionately negative impacts should be assessed and addressed as appropriate. The paper aims to contribute to this discussion by reviewing state-of-the-art research on the economic impacts of GHG mitigation measures on States using model-based analysis. Specifically, this report : identifies areas of economic impact from GHG mitigation measures and the mechanisms by which these impacts could propagate through transport and trade systems and the economies of States, compiles the latest findings on the order of magnitude of the economic impacts of GHG mitigation measures in the specified impact areas and presents different modeling approaches to assess economic impacts of GHG mitigation measures, along with best practices.
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This working paper commissioned by the World Bank Carbon Markets and Innovation Practice (GCCMI) critically examines experience with carbon markets under the Kyoto protocol.
... See More + The de facto end of the Kyoto Protocol and heralding of the Paris Agreement era has created the space for critical evaluation of trading carbon assets. The Kyoto Protocol and Paris Agreement diverge markedly in scope, centralization, and logic. As a result, the Article 6 carbon market mechanisms that emerge under Paris are likely to be very different to those that emerged under Kyoto. Nonetheless, experience with carbon markets under the Kyoto Protocol remains informative. This paper argues that there is still an economic and political rationale for trading carbon assets across borders. Trade in carbon assets can help reduce the costs of mitigation and facilitate emissions abatement at least-cost locations. When designed well, carbon market mechanisms can also facilitate learning, mobilize the private sector, and encourage transparency of mitigation efforts. Crucially, carbon markets could help support the operating logic of the Paris Agreement by binding signatories together and enhancing collective ambition. However, done badly, linking emissions systems could entail some risks to environmental integrity. In addition, given continued delays to the clarification of Article 6 and the need for strong action now, countries should not wait to implement effective domestic mitigation instruments such as carbon.
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Stakeholder and public support are critical for an enduring and robust carbon pricing policy. How jurisdictions communicate their carbon pricing policy plays a key role in creating and maintaining that support.
... See More + Drawing on case studies, research and best practice, the report provides guidance on designing and implementing effective carbon pricing communications strategies.
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